Objective Our objective was to determine whether fiscal year (FY) 2020 expenditures of the Postal Service Board of Governors (Board) were properly supported, reasonable, and complied with Postal Service and Board policies and procedures. The Postal Reorganization Act of 1970, as amended, established the Board which is comprised of nine governors appointed by the president…
Press Release – April 26, 2021 Washington, DC – The Postal Regulatory Commission (Commission) today released its Financial Analysis, an examination of the U.S. Postal Service’s (Postal Service) financial results and 10-K Statements for Fiscal Year (FY) 2020. Despite an increase in Competitive products revenue, the Commission’s overall analysis supports the conclusion that the Postal…
The Postal Regulatory Commission released its annual report to the president and Congress last week. The report outlines the ways in which the commission, also known as the PRC, provided regulatory oversight of the Postal Service during the fiscal year that ended Sept. 30. The document also outlines the agency’s work to regulate rates and…
The Postal Service delivered 129.2 billion mailpieces to 161 million addresses across the nation during fiscal year 2020, the organization says in its Annual Report to Congress. The report, which USPS published last month, covers the period from Oct. 1, 2019-Sept. 30, 2020. In addition to an overview of the organization’s finances, the 64-page document…
Chief Financial Officer Joe Corbett discusses the Postal Service’s year-end financial report in his latest “Dollars and Change” video. USPS recently reported $73.1 billion in operating revenue for fiscal year 2020 (Oct. 1, 2019-Sept. 30, 2020) and $82.2 billion in operating expenses, leaving the organization with a net loss of $9.2 billion. First-Class Mail and…
“During the past year – and especially over the last several months – the women and men of the United States Postal Service have been actively engaged in supporting the nation in its electoral process. We took on the challenge of coordinating with thousands of election officials around the country about how to work with…
The Postal Service has reported its financial results for fiscal year 2020 (Oct. 1, 2019-Sept. 30, 2020). Here are some highlights: • Revenue. Operating revenue was $73.1 billion, up 2.8 percent from the previous fiscal year, driven by a 25.3 percent increase in shipping and package revenue. First-Class Mail revenue fell 2.7 percent, while Marketing…
Background During fiscal year (FY) 2019, we issued 32 audit reports related to financial controls at Postal Service retail units. We identified inconsistencies with Postal Service policies for performing financial transactions. The purpose of this report is to bring attention to these issues and make recommendations for corrective action. Our objective was to assess current…
